One of the most important discussions happening since the Space Exploration Technologies (SPCX 6.83%) initial public offering (IPO), and the one that’s perhaps the most relevant to the investing community, is how the IPO impacts index investors.

While the SpaceX IPO was the largest in history and highly oversubscribed, there are plenty of investors out there (like me) who wouldn’t touch it with a 10-foot pole. That gets complicated, however, because many value investors use passive index investing, whether as the main part or just one element, of their investment strategy.

Since SpaceX has landed on the market as one of the most valuable companies in the world, it’s going to be added to many indexes and incorporated into funds that…